Families or individuals living in the Southern Dallas Area are being provided affordable mortgage coverage (via) the Affordable Housing Loan Program. This program is designed to assist lower income families with limited to mortgages residing in certain zip codes of the city. This is an ambitious plan since the country is currently living in somewhat of an economic depression. Financial institutions just doesn’t feel comfortable lending money pertaining to home investments, but this strategic plan has a great three-way partnership among three of the most prominent organizations in Dallas. Dallas Neighborhood Homes, Habitat For Humanity, and NexBank make up this team of specialists and each organizations brings something well suited to help the program succeed.
Habitat For Humanity and Dallas Neighborhood Homes, both non-profit organizations, are pleased to announce the Affordable Housing Loan Program and how it benefits residents of Southern Dallas. These residents will receive full support and guidance which will help make the homeownership transition easier. These counseling services are free of charge and can be used by the beneficiaries of the program.
The only way for such a huge endeavor like to succeed is with proper financial support. All the planning in the work wouldn’t be enough without funding and NexBank has taken on the role of benefactor. The bank is looking to provide $50 Million in loan support over a course of five years. For each year of the program, the goal is to provide 100 or more loans to homeowners with limited mortgage access. NexBank is a commercial, investment, and mortgage banking center that has the capabilities and expertise in this field. With over $3.5 Billion in assets, this financial institution shows that it has what it takes to get the job done. Now lower income families will have a better quality of life which certainly helps Dallas’ high poverty areas.